Lucid (LCID) falls in pre-market after announcing 2k unit recall

Midday movers: JPMorgan, Bank of America, Exxon, Tesla and more

January 12, 2024 7:50 AM EST

(Updated - January 12, 2024 11:47 AM EST)

Investing.com -- Main U.S. indexes were lower Friday as investors digested earnings from a number of major banks and more inflation data.

Here are some of the biggest U.S. stock movers today:

JPMorgan Chase (NYSE: JPM) stock rose 2% on the open after the lender reported record full-year profit, benefiting from rising interest rates, despite a 15% fall in net income in the final quarter. Gains dwindled throughout the morning and the stock was flat midday.

Bank of America (NYSE:... More

EV maker Lucid recalls over 2,000 luxury sedans due to faulty component

January 12, 2024 6:13 AM EST

(Reuters) - Lucid Group is recalling more than 2,000 units of its Air luxury electric sedan for potential faults in early versions of a part that could pose a safety risk due to obstructed driver vision.

The recalled units, which include Lucid Air sedans from model years 2022 and 2023, may... More

Lucid recalls over 2,000 luxury sedans due to faulty component

January 12, 2024 6:11 AM EST

(Updated - January 12, 2024 6:13 AM EST)

Lucid (NASDAQ: LCID) is recalling over 2,000 luxury sedans due to faulty component.

Over 2,000 units of Air luxury electric sedan are being recalled for potential faults in early versions of a part that could pose... More

CFRA downgrades Lucid (LCID) as sales fall short

January 11, 2024 12:52 PM EST

CFRA research has downgraded Lucid Auto (NASDAQ: LCID) from a Sell rating to a Strong-Sell rating while also cutting their 12-month price target on the companys shares to $1.00 (From $2.00) after Lucid announced a rise in deliveries during the fourth quarter.

While LCID's quarterly... More

CFRA Downgrades Lucid Group Inc. (LCID) to Strong Sell, 'advising investors against thinking about "catching a falling knife"'

January 11, 2024 12:39 PM EST

(Updated - January 11, 2024 12:39 PM EST)

CFRA analyst Garrett Nelson downgraded Lucid Group Inc. (NASDAQ: LCID) from Sell to Strong Sell with a price target of $1.00 (from $2.00).

The analyst comments "We cut our 12-month price target to $1 from $2. We lower our 2023 adjusted EPS estimate to -$1.50 from... More

Lucid (LCID) rises in pre-market following 4Q delivery beat

January 11, 2024 9:40 AM EST

Lucid Group's (NASDAQ: LCID) shares experienced a 2.6% increase in premarket trading Thursday morning following the company's announcement of a rise in deliveries during the fourth quarter compared to the previous three months.

The boost in demand for its luxury electric sedans was... More

Tesla (TSLA), Other EV Stocks Lower as Hertz (HTZ) to Sell Third of U.S. EV Fleet

January 11, 2024 9:07 AM EST

(Updated - January 11, 2024 9:07 AM EST)

Tesla (NASDAQ: TSLA), Other EV Stocks Lower as Hertz Global (NASDAQ: HTZ) to Sell Third of EV U.S. Fleet

Tesla -1.3%Hertz said, "The Company expects this action to... More

EV maker Lucid's quarterly production, deliveries fall, shares tumble

January 11, 2024 9:02 AM EST

(Reuters) - Lucid Group said on Thursday its deliveries and production fell in the fourth quarter from a year earlier, sending its shares down to a record low.

High interest rates have weakened demand for EVs as customers cut back on big-ticket purchases, which has prompted automakers such as Ford and General Motors to push back their planned EV and battery factory expansion plans.

Lucid has also been hit by a... More

Lucid Group (LCID) Produced 8,428 EVs in 2023, Delivered 6,001

January 11, 2024 9:01 AM EST

Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, selected to Car and Driver's 10Best list for 2024, today announced production and delivery totals for the quarter ended December 31, 2023.... More